By taking the current approach they've been able to suck in millions more shares at 10c, vs having to buy those at 10.5c as well. If they just stacked the bid with massive buy orders and sat there, traders/people would by at 10.5 and stack the bid at 11c.
Important thing to remember is that the 55m+ they've bought are now permanently off the market, not like traders who'd just buy and sell back. This clears the way for an easier rerate as the news flow begins. Just need to be patient
all just in my opinion though.
By taking the current approach they've been able to suck in...
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Last
5.0¢ |
Change
-0.001(1.96%) |
Mkt cap ! $69.90M | |||
| Open | High | Low | Value | Volume |
| 5.0¢ | 5.1¢ | 4.9¢ | $36.95K | 741.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 80068 | 5.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.2¢ | 1062376 | 1 |
View Market Depth
| Last trade - 15.57pm 06/05/2024 (20 minute delay) ? |
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Last
5.0¢ |
Change
-0.001 ( 4.17 %) |
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| Open | High | Low | Volume | ||
| 4.9¢ | 5.0¢ | 4.9¢ | 22110 | ||
| Last updated 15.26pm 06/05/2024 ? | |||||
| EUR (ASX) Chart |